Gold running out of patience now?

Gold has just now taken a hit lower. The metal has just now fallen below the lows seen earlier during the Asian session, when it fell to $2,633.87. The low compared to a close last night in the US at $2,642.59. The move lower today seems to come due to a lack of any fresh news concerning the situation in the Middle East. Of course we know the metal is near its record levels because of that situation and the question really up here, is how much more of a premium can this situation command overall? Personally there are doubts about that here, but at the same time it is appreciated, that those serious investors who have brought gold will not be easily parted with it. As for the shorter-term players? That is a different matter and it looks like a degree of impatience amongst those guys this morning would account for the price action we are now seeing. Gold has just hit a new session low at $2,631.27. The next support is the 21 day moving average, in place right now at $2,614.20. Gold is currently trading at $2,633.90